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Wednesday, 28 April 10
DRY BULK MARKET
 After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Index (BDI) rose yesterday by more than 6% on a daily basis to 3,203 points, with analysts unanimous that stronger iron ore demand from China was the key reason. The BDI now stands at its highest level in more than one month, while reports said yesterday that smaller Chinese steel mills began buying iron ore at quarterly prices agreed by Japan and South Korea, in a move that effectively ends the old benchmark system.
In its weekly report, shipbroker BRS (Barry Rogliano Salles) said that South Africa’s Richards Bay terminal confirmed a sharp rise in Asian exports, which rose to 42% of total shipments in the first quarter of this year, up from 25% a year earlier – due mainly to Chinese and Indian demand.
In Europe, Thyssenkrupp became the first European buyer to confirm it had agreed an iron ore price on a quarterly basis. In line with the Japanese contracts, it also reported a 100% price increase, back-dated to April 1. Commenting on the capesize market prospects, BRS said that the market will continue to watch what impact the new, higher commodity prices will have on demand.
According to brokers quoted by Reuters, high congestion at Brazilian ports had also helped drive rates higher, especially for the larger capesize ships. They added that freight derivatives contract buying had added to the positive momentum. Andrew Dawson, a broker with Freight Investor Services was quoted by the agency saying that "it seems to be a combination of a lack of vessels in the Atlantic and also increased demand from the Chinese. It's iron ore that has driven this push." As a result, capesize vessels, typically the main haulers of iron ore were the principal gainers from yesterday’s upward push in the market. Average earnings rose to $35,109, according to the Baltic Exchange.
In a separate report, JP Morgan Chase & Co. raised its previous estimates on global demand for dry bulk commodities, saying that it will expand by 6 percent in 2010, versus its previous forecast of 3.7 percent. On a similar note, JP Morgan said that it expects iron ore trade growth to reach 11.2%, from an earlier prediction of 5.7%, while coal demand will expand by 5.7%, up from the previous estimate of 3.8%. In other words, the investment bank almost doubled its estimates on global dry bulk trade growth, in what could be translated as a pretty strong sign of the industry’s ability to leap out from the crisis and also face with very increased chances the issue of tonnage oversupply.
On that matter, JP Morgan commented that the increased trade will coincide with half the ships that are scheduled to be built this year being delayed or cancelled, as yards in Asia fail to deliver a record order book on time. “We do not believe that it is even physically possible for the shipyards to meet this robust schedule, with or without financing concerns,” said the report, quoted by Bloomberg.
JPMorgan increased its forecasts for what ships will earn as a result by as much as 33 percent. Panamax ships, the largest to sail through the Panama Canal, will average $21,200 a day this year, up from a previous forecast of $16,000, JPMorgan said. Rates for capesizes, were revised up 3.1 percent to $33,000 a day; supramaxes were increased 22 percent to $17,100 a day, and handymaxes will make $14,700, compared with a prior estimate of $12,000, it said.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
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- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
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